Eight months ago, the two-bedroom unit, which comes with two deeded parking spaces and secured storage in the building’s garage, returned to the market priced at $1.995 million.

Withdrawn from the MLS in January, the unit was re-listed this past March with a $1.895 million price tag.

And having been listed anew for $1.795 million last month, the sale of 650 Delancey Street #218 has just closed escrow with an “over asking” contract price of $1.85 million and only “45 days on the market” according to all industry stats and aggregate reports.

And while $1,195 per square foot certainly isn’t cheap, keep in mind that the median sale price for South Beach units as a whole has been running closer to $1,400 per foot.

We certainly draw conclusions based on data, analysis and actual trends (versus perceptions, feelings or sloppy reports), and we do track a broad basket of listings and potrntial sdales, but we don’t go looking for “things” to prove our point and will report the outcome of any apples-to-apples sales in our basket, regardless of where they might fall.

Maybe so, tho’ a quick search I just did, for recent loft sales in this general area (355 Bryant, Clocktower, 400 Spear, 346 1st, 601 4th St., 301 Bryant, and other Oriental Warehouse sales), shows a fairly tight range of $1000-1200/sq. ft. The Feb. 2019 sale of #411 at 650 Delancey sold at $1084/sq. ft., so I think the sellers here did about as well as could be expected.

We’re well aware that lofts are but one segment of the market. But as we actually wrote and included for context above, “while $1,195 per square foot certainly isn’t cheap, keep in mind that the median sale price for South Beach units as a whole has been running closer to $1,400 per foot.” And no, that’s not simply the median sale price for “new condos.”

So your readers were meant to “keep in mind” that another category was trading more like 1400 a foot median, even though the loft category was not. Got it. Wait. Nope. Still makes zero sense, other than you forced a narrative, were wrong, and got called out on it.

No, they were to keep in mind that “while $1,195 per square foot certainly isn’t cheap,” “the median sale price for South Beach units as a whole,” which includes lofts, “has been running closer to $1,400 per foot.”

We can certainly understand how such an assertion might make you feel better, but unfortunately it’s factually incorrect.

We did, however, note the first signs of a market slowdown back in late 2015. And lo and behold, it just so happens that inventory levels started ticking up soon thereafter, sales volumes dropped, rents peaked and actual declines, as measured on an apples-to-apples basis, began to emerge.

But you do highlight an important point, which is that the real estate market doesn’t move overnight. And in fact, the cracks in the market, which have since widened and spread, first emerged a few years ago.

Have folks lived in lofts like these? Where can guests stay, or a newborn, or kids? It sure looks nice, but for 1600 square feet, seems inefficient. I suppose when all the natural light comes from only one wall, there are very few design and layout choices available.

The tri-level lofts are the best config IMO. The units that are 1st floor: office/guest, 2nd: main living, 3rd: loft bedroom. That gets you a place with all the high-ceiling and light-filled fun, but with a real “room” when you need it.